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Why Shares of Fortinet Jumped Today

TheMotleyFool

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Why Shares of Fortinet Jumped TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Shares of Fortinet (NASDAQ: FTNT) rose on Friday after the cybersecurity provider reported its third-quarter results. It beat analyst estimates for both revenue and earnings, and increased its guidance for the full year. The stock was up 11% at 12:10 p.m. EDT today.

Third-quarter revenue was $547.5 million, up 21% year over year and nearly $14 million higher than the average analyst estimate. Product revenue was $197.1 million, up 20% from the prior-year period, while service revenue jumped 21% to $350.4 million.

Image source: Getty Images.

Source Fool.com

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